Ordnance Factory Board targets Rs 1,000 crore worth of exports in two years

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Ordnance Factory Board targets Rs 1,000 crore worth of exports in two yearsKOLKATA: Ordnance Factory Board (OFB) is targeting to export Rs 1,000 crore worth of defence ammunition products over the next two years, its chairman P K Srivastava said on Thursday.

Last year, the state-run OFB's exports stood at Rs 250 crore, he said, adding that a deal of Rs 500 crore in the current fiscal would be finalised shortly.

For the first time, OFB has conducted a conference for defence attaches with Indian embassies abroad to keep them updated on the products which it manufactures and also their export potential.

"There was never a thrust on exports even a decade back. But now, with the change in approach, we are pursuing the global market," Srivastava, also the Director General of Ordnance Factory (DGOF), said.

He said all the 41-odd ordnance factories were embracing technological advancements with focus on research and development.